HUL has signed a share purchase agreement to acquire 90.5% of Minimalist's shares for INR 2,670 crore through a secondary buyout, complemented by a primary infusion of INR 45 crore into the company.

Unilever’s India unit is acquiring Indian premium beauty brand Minimalist. Hindustan Unilever (HUL) announced it will take a 90.5% stake in the company for a value of 29.55bn rupees (US$342.3m), including debt. HUL also said that within two years Minimalist would be owned wholly by them.

In a historic move in India's direct-to-consumer (D2C) market, Hindustan Unilever Limited (HUL) paid ₹2,955 crore in pure cash to purchase a 90.5% share in the successful skincare business Minimalist.

The current Minimalist team led by Mohit and Rahul will continue to operate the business in collaboration with HUL.

Minimalist raised Rs 110 crore ($15 million) from Unilever Ventures, the venture arm of Unilever, which also operates HUL in India, to scale its business

Hindustan Unilever Ltd announced the acquisition of premium skincare brand Minimalist for ₹2,955 crore on Wednesday, January 22. The FMCG giant also recorded a 19% year-on-year growth in net profits for its Q3 results.